State Secretary of the Ministry of Foreign Affairs Nemanja Stevanovic met on 4 December with the delegation of the Ministry of Foreign Affairs of the Republic of Korea, headed by Vice Foreign Minister Cho Hyun.

Both sides found that the relations between the two countries were good with considerable potential for further promotion, particularly in the field of economic cooperation.

It was noted that the intensification of high- and top-level political dialogue would contribute substantially to the overall development of relations, characterized by a positive trend in the past years. State Secretary Stevanovic was invited to pay a visit to the Republic of Korea, while the Serbian side repeated its invitation to organize political consultations between the two Foreign Ministries in Belgrade.

State Secretary Stevanovic underlined in particular the need to promote trade cooperation and reduce the large deficit in trade in goods on the Serbian side.

They assessed as a positive development Korean investments made so far in Serbia, noting the Jura Corporation as an excellent example. The Serbian side welcomed the Korean side announcing fresh investments in Serbian economic potential.

State Secretary Stevanovic informed the Korean side in detail about the prospects for participation in projects and the privatization process in the Republic of Serbia, in the fields of infrastructure, energy, transport, mining, etc.

The officials noted good prospects for the development of cooperation in the sectors of IT, pharmaceutical and chemical industries.